IAMGOLD announces current Merrex investment
TSX: IMG NYSE: IAG
TORONTO, July 26, 2013 /PRNewswire/ - IAMGOLD Corporation ("IAMGOLD" or the "Company") announced that, today, it acquired 6,666,667 common shares of Merrex Gold Inc. ("Merrex") (MXI: TSXV) in partial satisfaction or repayment of a debt owed by Merrex to an indirect wholly-owned subsidiary of IAMGOLD.
IAMGOLD now owns 24,283,550 common shares of Merrex or 19.34% of the outstanding common shares.
The common shares of Merrex acquired today by IAMGOLD were acquired for investment purposes. IAMGOLD does not have any present intention to acquire ownership of, or control over, additional securities of Merrex. It is the intention of IAMGOLD to evaluate its investment in Merrex on a continuing basis and such holdings may be increased or decreased in the future.
IAMGOLD has filed an early warning report on Merrex's SEDAR profile at www.sedar.com.
IAMGOLD (www.iamgold.com) is a leading mid-tier gold producer with six operating gold mines (including current joint ventures) on three continents. In the Canadian province of Québec, the Company also operates Niobec Inc., one of the world's top three producers of niobium, and owns a rare earth element resource close to its niobium mine. IAMGOLD is well positioned for growth with a strong financial position and extensive management and operational expertise. To grow from this strong base, IAMGOLD will advance those projects from its pipeline of exploration and expansion projects that can deliver attractive rates of return. IAMGOLD's growth plans are strategically focused in certain regions in Canada, select countries in South America and Africa.
This entire news release may be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through CNW Group's website at www.newswire.ca. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov.
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SOURCE IAMGOLD Corporation